AstraZeneca has signed a definitive agreement to initiate a tender offer for the acquisition of US-based clinical-stage biopharmaceutical company Icosavax for an equity price of $1.1bn.
Icosavax develops vaccines for infectious diseases, utilising its protein virus-like particle (VLP) platform technology.
The proposed takeover will bolster AstraZeneca's vaccines and immune therapies late-stage pipeline with the addition of IVX-A12, a lead investigational vaccine candidate of Icosavax.
A Phase III-ready asset, IVX-A12 is a combination protein VLP vaccine that acts on respiratory syncytial virus (RSV) and human metapneumovirus (hMPV).
In a Phase II trial, IVX-A12 was shown to induce strong immune responses against RSV and hMPV a month after immunisation.
The deal will also provide AstraZeneca with access to Icosavax’s expertise in protein VLP science and development alongside technology and capabilities in protein design.
This will aid AstraZeneca in advancing the development of IVX-A12 and other differentiated VLP vaccines for respiratory infections.
AstraZeneca vaccines and immune therapies executive vice-president Iskra Reic stated: “This virus-like particle vaccine technology has the potential to transform prevention [of] severe infectious diseases, including RSV and hMPV.
“With the addition of Icosavax’s Phase III-ready lead asset to our late-stage pipeline, we will have a differentiated, advanced investigational vaccine and a platform for further development of combination vaccines against respiratory viruses.”
Following the conclusion of the tender offer, a subsidiary of AstraZeneca will be merged with Icosavax.
The deal will conclude in the first quarter of 2024.
Icosavax CEO Adam Simpson stated: “We are pleased to announce the proposed acquisition of Icosavax by AstraZeneca as we believe it offers the opportunity to accelerate and expand access to our potential first-in-class combination vaccine for older adults at risk of RSV and hMPV.
“We look forward to combining our skills and expertise in advancing the development of IVX-A12 with AstraZeneca’s decades of experience in RSV, resources and capabilities in late-stage development.”
AstraZeneca and AbelZeta Pharma previously signed a deal to co-develop the CAR-T cell therapy, C-CAR031, for hepatocellular carcinoma.
